Average Cost of Homeowners Insurance in South Dakota (2024)


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Updated: May 22, 2024

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The average cost of homeowners insurance in South Dakota in 2024 is $2,827. This figure is $404 more than the national average of $2,423. Aside from the amount of coverage you get, credit rating has the largest impact on premiums in South Dakota. The difference between premiums for those with excellent and poor credit ratings can be as much as $12,283.

If your rates have recently increased, we've also analyzed the cheapest policies in South Dakota, which could offer more affordable options. The insurance provider you choose also plays a role in determining your premiums.

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Rates updated:

Jul 18, 2024

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To establish the average cost of homeowners insurance in South Dakota, MoneyGeek used quotes from various providers for a profile that reflects the average homeowner.

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These rates reflect the average cost of car insurance in South Dakota as of 2024.

690KQuotes Analyzed
 
8Companies Compared
 
5ZIP Codes

Average Cost of Home Insurance in South Dakota by Coverage Amount

In South Dakota, the average homeowners insurance premium is $2,827 for policies with $250K in dwelling coverage, $125K in personal property coverage and $200K in liability coverage, which is more than the national average of $2,423.

When determining how much coverage you need, first secure enough insurance to rebuild your home and replace personal property after a total loss. For example, a South Dakota policy with $100K in dwelling coverage comes with an annual premium of $1,577. On the other hand, if your property necessitates $500K in dwelling coverage, the annual premium rises to $4,733.

Average Annual Home Insurance Premium South Dakota by Coverage Amount
$100K Dwelling / $50K Personal Property / $100K LiabilityAverage Annual Premium$1,577
$250K Dwelling / $125K Personal Property / $200K LiabilityAverage Annual Premium$2,827
$500K Dwelling / $250K Personal Property / $300K LiabilityAverage Annual Premium$4,733
$750K Dwelling / $375K Personal Property / $500K LiabilityAverage Annual Premium$6,349

Average Cost of Home Insurance in South Dakota by Insurer

Homeowners insurance premiums in South Dakota can swing widely from one insurer to the next, even for comparable coverage. For instance, a policy from Auto-Owners Insurance may cost significantly less than one from USAA, reflecting a difference of over $2,000 annually.

For those shopping around for the best fit, there are plenty of great providers in South Dakota. Differences in underwriting can lead to substantial variations in policy costs, making it wise to compare options.

Average Annual Home Insurance Premium South Dakota by Provider
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
Auto-Owners InsuranceAnnual Premium$1,634
Farm BureauAnnual Premium$2,351
AllstateAnnual Premium$2,481
FarmersAnnual Premium$2,499
State FarmAnnual Premium$2,605
NationwideAnnual Premium$3,343
American FamilyAnnual Premium$3,688
USAAAnnual Premium$4,019

Average Cost of Home Insurance in South Dakota by Credit Score

Homeowners in South Dakota with poor credit scores pay $14,486 annually for homeowners insurance on average, a staggering $11,659 more than the state average of $2,827. Conversely, those with excellent credit enjoy a premium of about $2,203, saving them $624 below the average.

While immediate improvements to credit scores aren't always feasible, strategic planning can enhance them over time, potentially reducing insurance costs. In the interim, comparing insurance providers can unearth significant savings. South Dakota homeowners can explore their options and potentially find more affordable rates in less than 15 minutes by checking which insurers offer the best value for their money.

Average Annual Home Insurance Premium in NJ by Credit Rating
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
PoorAnnual Premium$14,486
Below FairAnnual Premium$6,317
FairAnnual Premium$3,873
GoodAnnual Premium$2,827
ExcellentAnnual Premium$2,203

Average Cost of Home Insurance in South Dakota by Construction and Roof Type

Roofing materials affect homeowners insurance premiums due to their durability and resistance to elements. In South Dakota, homes with tile roofs may have lower insurance costs as they are more resistant to weather-related damage.

Construction materials also play a role in insurance pricing, as some are more resistant to common perils. For instance, homes with superior construction materials that are more fire-resistant can attract lower insurance premiums than standard frame construction.

Use the drop-downs in the table below to see how premiums change based on your home's materials.

Average Annual Home Insurance in South Dakota by Construction and Roofing Type
Data filtered by:Results filtered by:
Construction:
Construction:Frame
Roof Type:
Roof Type:Composition
$100K Dwelling / $50K Personal Property / $100K LiabilityAnnual Premium$1,577
$250K Dwelling / $125K Personal Property / $200K LiabilityAnnual Premium$2,827
$500K Dwelling / $250K Personal Property / $300K LiabilityAnnual Premium$4,733
$750K Dwelling / $375K Personal Property / $500K LiabilityAnnual Premium$6,349
$1M Dwelling / $500K Personal Property / $1M LiabilityAnnual Premium$7,897

Average Cost of Home Insurance in South Dakota for Newly Constructed Homes

Insuring a new construction home in South Dakota typically costs less than covering an existing one. Homeowners may find that the modern materials and adherence to current building codes can translate into savings on their premiums. The table below illustrates how premiums for new homes compare with those for older structures. Adjust the filter to see how different levels of coverage affect these costs.

In South Dakota, the average annual premium for a new home is $1,204, which is $1,623 lower than the average for an existing home at $2,827.

Average Annual Home Insurance Premiums: New vs. Existing Construction
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
Existing Construction (2000)Annual Premium$2,827
New Construction (2023)Annual Premium$1,204

Average Cost of Home Insurance in South Dakota by Claims History

In South Dakota, homeowners with a spotless claims record for five or more years can expect an average annual premium of $2,827 for their homeowners insurance. However, if you've filed a single claim within the past five years, the average jumps to $3,399, reflecting a $572 increase from the baseline. For those with two claims in the same timeframe, the premium escalates to an average of $4,027 annually, which is $1,200 above the average. These figures illustrate how a claims-free history can significantly benefit your wallet when it comes to insurance costs.

Average Annual Home Insurance in South Dakota by Claims Experience
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
Claim free for 5+ yearsAnnual Premium$2,827
1 claim in past 5 yearsAnnual Premium$3,399
2 claims in past 5 yearsAnnual Premium$4,027
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SOUTH DAKOTA NATURAL DISASTERS AND HOME INSURANCE

In South Dakota, tornadoes and wildfires pose significant risks to homeowners. These natural disasters can lead to costly damages. Home insurance typically covers wind damage from tornadoes, and most policies also cover wildfires. Always confirm with your insurer to know what's included in your policy.

How to Shop for Home Insurance in South Dakota

Getting a good deal on homeowners insurance in South Dakota is within reach. You don't need to be an expert to find insurance that fits your budget and meets your needs. It's about being savvy and knowing that the perfect policy is out there for you. Here's how to find the best deal for you.

1
Understand Your Needs

Assess how much coverage you need.

2
Compare Quotes

Look at different prices by comparing quotes.

3
Check Discounts

Ask insurers about bundles and discounts.

4
Review Company Ratings

Pick insurers with good reviews and fair prices.

5
Choose Deductibles Wisely

Higher deductibles can lower premiums.

6
Finalize Your Policy

Buy the policy that fits your needs best.

Bundling Home Insurance With Auto Insurance in South Dakota

Homeowners can unlock savings by bundling their home insurance with auto insurance in South Dakota. MoneyGeek's analysis reveals that the average savings on the combined cost of auto and home insurance range from $414 to $1,000 per year, with an average percent savings of about 18%. Opting for a multipolicy bundle can be a smart way to manage insurance costs more effectively.

Home Insurance Discounts in South Dakota

Homeowners in South Dakota can capitalize on various discounts to lower their insurance premiums.

  • Protective devices discount for installing security systems
  • Impact-resistant roof discount for weatherproof roofing materials
  • Claim-free discount for years without filing a claim

Remember to inquire about eligible discounts when requesting a quote to ensure you're getting the best possible rate.

FAQ: Homeowners Insurance in South Dakota

On average, what is the cheapest insurer in South Dakota?
Is tornado coverage included in South Dakota homeowners insurance?
What is the biggest factor that impacts the price of homeowners insurance in South Dakota?
In South Dakota, how much can I save on average by bundling my homeowners insurance with auto?

Additional Resources for Homeowners Insurance in South Dakota

For those navigating the homeowners insurance landscape in South Dakota, a variety of resources are available to assist with understanding regulations, finding affordable coverage and estimating insurance costs. Whether you're a new homebuyer or a seasoned homeowner, these tools can provide valuable insights into your insurance options.

About Mark Fitzpatrick


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Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.